Free Exam: Economics Test 1
Number of Questions in Test: 25
Number of Questions in Preview: 5
Register to view all questions.
Note: Answers are not shown below but will be copied with this test.
Copy this test to my quiz maker account
Register with ClassMarker to copy free tests to give to your Test takers.
Register nowQuestion 1
Equilibrium point is when
| Type: | Multiple choice |
| Points: | 1 |
| Randomize answers: | No |
Question 2
According to the chart below trading for goods and services, rather than exchanging money) is [b]rare[/b] in the traditional economy.
[img]http://s3.amazonaws.com/engrade-myfiles/4082678220684920/comparison_chart_econ_sys.bmp[/img]
[img]http://s3.amazonaws.com/engrade-myfiles/4082678220684920/comparison_chart_econ_sys.bmp[/img]
| Type: | True/False |
| Points: | 1 |
Question 3
These businesses may borrow money just like other business structures. However, because there is no separation between business and personal assets, many of these business types need to use their personal assets as collateral of the loan. Some people even use their home as collateral. This means that if the business fails, and the owner does not have enough money to pay the loan, the lender can take away the owner's personal assets to get their money back.
[b][i]Which business type is the passage referring to[/i][/b]
[b][i]Which business type is the passage referring to[/i][/b]
| Type: | Multiple choice |
| Points: | 1 |
| Randomize answers: | No |
Question 4
(which economic system) Agriculture is often the largest source of income for most citizens
| Type: | Free text |
| Points: | 1 |
| Randomize answers: | No |
Question 5
(which system) Customs and habits play an important role in the economy
| Type: | Free text |
| Points: | 1 |
| Randomize answers: | No |